NBAD Opens 28th Branch in Egypt

NBAD Opens 28th Branch in Egypt
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Published August 25th, 2010 - 08:49 GMT

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The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has inaugurated its 28th branch in Egypt in line with the Bank's strategy to expand its branch network in Egypt to 50 branches over the next few years.

The new El Hegaz Branch in Helioplis in eastern Cairo is strategically located in a commercial area of the Egyptian capital.

"NBAD opened its first overseas branch in Cairo in 1975. Since then, Egypt remains an important and critical market for us as can be witnessed by our growth and future plans for the country," said Qamber Ali Al Mulla, the Senior General Manager of NBAD's International Banking Division.

NBAD continues to expand its international presence. The Bank now has nearly 50 units operating in 12 countries spanning the Far East to North America, Africa and the Middle East and it prides itself on being able to offer its clients a wide range of innovative and technological products and a truly global service.

"NBAD's aim is to be the Number One Arab Bank and therefore we will continue to look for opportunities in large Arab economies as well as other international markets," Mr. Al Mulla said. He also added that NBAD currently has a number of expansion projects in the pipeline in various stages.

NBAD, which also operates nearly 45 ATMs in Egypt, has become an established brand in the Egyptian market and has positioned itself as a leading bank in the market.

"The new branch has been outfitted with state-of-the-art technologies enabling it to provide even more efficient, effective services to the Bank's customers," said Ahmed Ismail Hassan, NBAD's Regional Manager in Egypt. "It offers customers access to all of the Bank's competitive and innovative products and services. Run by professional and experienced talents, the new branch is a valuable addition to NBAD's branch network endeavoring to keep pace with the international standards and trends for providing innovative products and services."

NBAD Egypt targets the top end of the retail banking sector and large corporates, both Egyptian and multinational. NBAD serves as the banker of choice for most UAE companies doing business in Egypt. Furthermore, the Bank is committed to assisting the Egyptian government's goal of supporting small and medium-sized businesses. As a result, NBAD has established its SME's Unit to provide financing to this segment. 

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